Replies to post #4 on Correlate Energy Corp (CIPI)

[Timothy Smith]

Frontier Oilfield Services announces another acquisition

Jul 10, 2012 7:00:00 AM

DALLAS, July 10, 2012 /PRNewswire/ -- Frontier Oilfield Services, Inc (OTCQB: FOSI) announces its intention to acquire Chico Coffman Tank Trucks, Inc ("Coffman"), including its wholly owned subsidiary, Coffman Disposal, LLC for the sum of $17,408,348.00 subject to certain negative and positive adjustments based upon the amount, at the time of closing, of Coffman's indebtedness, seller's expenses and EBITA adjustments.

Coffman is a salt water disposal company with its primary base of operations located in North Texas with its trade and service area being in the Barnett Shale oil and gas field located in North Central Texas.

Coffman had audited 2011 revenues on $40.5 million with an EBITA of $3,263,929. Coffman's assets are currently valued on its financials at $24 million and consist of accounts receivables, rolling stock (trucks and trailers), six permitted disposal wells and the headquarters real property.

Tim P Burroughs, President of Frontier Oilfield Services, stated, "We are pleased that Mr. JD Coffman will remain as President of Coffman Tank Trucks, Inc. under a five year employment agreement and assist us in the implementation of our future acquisition strategy."

ABOUT FRONTIER OILFIELD SERVICES, INC

Frontier Oilfield Services, Inc.'s primary business focus on wastewater recovery and disposal has been selected due to the recurring nature of the revenues, the relatively high margins and the strong barriers to entry by potential competitors because of the limited supply of state permitted commercial disposal wells. In addition, as a result of breakthroughs in recent technology (the process by which shale oil and gas is extracted), exploration & production companies are faced with increasing volumes of, and thus challenges with regard to the disposal of produced fluids and saltwater. Frontier's acquisition strategy in this highly fragmented, decentralized and essential sector of the energy services market, positions Frontier for potentially rapid expansion and substantial growth in the future.